Old and dilapidated buildings, constructed before 1969, will get a floor space index of 3 for redevelopment. Chief minister Prithviraj Chavan cleared this decision on Monday. He had put this decision, taken by his predecessor, Ashok Chavan, on hold. The former chief minister had announced this deci sion in the Legislature in July 2010. It was notified in November 2010, just before he quit following the Adarsh scam. The FSI of a building is the ratio of the built-up area to the total area of the plot.
The FSI for redevelopment of old buildings in the island city is 2.5. Hiking this FSI to 3 will trigger a frenzy of real estate activity.
There are 16,000-odd old, cessed buildings in Mumbai. These buildings pay a cess to the Maharashtra Housing and Area Development Authority for their maintenance. The state had categorised them as A, B and C, depending on the age of the construction. Earlier, only buildings in the A category — those built before 1940 — could be redeveloped with incentive FSI.